Compass Group 1st Half Pretax Profit Fell, Sees Gradual Recovery in 3Q
By Adria Calatayud
Compass Group PLC said Wednesday that pretax profit for the
first half of fiscal 2021 fell sharply as revenue was hit by the
coronavirus pandemic but it anticipates a gradual improvement in
revenue in the third quarter.
The U.K. catering contractor said pretax profit for the six
months to March 31 was 133 million pounds ($188.1 million) compared
with GBP787 million for the same period last year.
Underlying operating profit for the period fell 65% to GBP290
million, with a margin of 3.4%.
Revenue for the half was GBP8.44 billion, down from GBP12.48
billion in the year-earlier period.
Compass said it anticipates a gradual improvement in revenue and
an operating margin of between 4.5% and 5.0% in the third
"With the gathering pace of vaccination rollouts across our
major markets, we are working closely with our clients to prepare
to reopen their sites safely, although the picture across the world
remains mixed," Chief Executive Dominic Blakemore said.
Write to Adria Calatayud at firstname.lastname@example.org
(END) Dow Jones Newswires
May 12, 2021 02:36 ET (06:36 GMT)
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